What Does Gambling Look Like on the NEO Blockchain?

The NEO blockchain is well known for its block generation speed and how many transactions per second it boasts over Ethereum and Bitcoin. However, with an explosion of blockchain-based casino platforms, it’s only a matter of time before even the mighty NEO succumbs to slowdown.

As of now, there are no casino platforms on NEO, but Lucky NEO and NEO Raffle already run blockchain-based raffles and lotteries, so it’s only a matter of time.

Let’s imagine we’re playing on a slot machine. We’ve placed our wager in tokens. And now we must wait for that transaction to confirm. Then, we take a spin. And now we must wait for that transaction to confirm. Get where I’m going with this?

It doesn’t exactly make for a great user experience. Not only that, with the number of transactions involved in gaming (i.e. every spin is a transaction) blockchain congestion is bound to happen, especially when you consider the thousands or tens of thousands of people playing them simultaneously.

Trinity’s state channel technology enables the NEO blockchain to effectively scale to these levels. By allowing batches of transactions to be performed off-chain, it relieves transaction congestion and, by proxy, improves the user experience.

Here’s how it would work in a NEO blockchain casino scenario:

● The gamer chooses their favorite game, deposits their tokens, and a segment of the blockchain state is locked with a smart contract or multisignature agreement. (In this case, it would likely be a smart contract).
● The gamer spins the reels, and each outcome is recorded off-chain.
● At the end of the session, the smart contract ends, tokens are allocated to the appropriate wallets, and the entire set of transactions is written to the blockchain as a single transaction.

Trinity’s state channel technology decreases transaction time and congestion drastically. With such a powerful tool at their disposal, developers are free to create dApps that require hundreds or thousands of transactions per session without the fear of bringing NEO grinding to a halt.

Based near Windsor, England, Matthew Warner is an enthusiast for innovative, cutting edge technologies. He is a B.Eng. graduate in engineering with honors from the University of Warwick and also holds an PGCE in education degree. Matthew is a member of Mensa.